Companies /Real Estate

STAG Industrial Inc

NYSE: STAG Reit - Industrial
$37.60
▲ $0.11 (+0.29%) today
Markets closed · 2:26am ET

Q1 2026 Earnings

Reported Apr 28, 2026, 4:07pm ET · SEC source
$0.32
Beat +33.33%
EPS · est. $0.24 GAAP

Includes $15.1 million gain on sales of rental property in Q1 2026 (vs. $49.9 million in Q1 2025); Q1 2025 also included a $1.9 million gain on involuntary conversion not present in Q1 2026

$224.2M
Beat +0.84%
Revenue · est. $222.3M
−10.2%
Trailing market
STAG vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%−2%0Apr 28Apr 29report 4:07pm ETearnings+0.2%−3.7%
−4%−2%0Apr 28Apr 29earnings+0.2%−3.7%
STAG −3.7%S&P 500 +0.2%
−4%−2%0Apr 28Apr 29report 4:07pm ETearnings+1.2%−3.7%
−4%−2%0Apr 28Apr 29earnings+1.2%−3.7%
STAG −3.7%NASDAQ +1.2%
−3%0+3%Apr 27May 6report 4:07pm ETearnings+3.1%−3.3%
−3%0+3%Apr 27May 6earnings+3.1%−3.3%
STAG −3.3%S&P 500 +3.1%
−4%0+4%Apr 27May 6report 4:07pm ETearnings+5.7%−3.3%
−4%0+4%Apr 27May 6earnings+5.7%−3.3%
STAG −3.3%NASDAQ +5.7%
−3.72%
Day of report
+1.29%
Next session
+1.21%
One week
−3.57%
30 days

S&P 500 over the same 30 days: +6.60%.

Did STAG Beat Earnings? Q1 2026 Results

STAG Industrial delivered a strong first quarter for fiscal 2026, beating Wall Street expectations on both top and bottom lines and extending its streak of consensus EPS beats to four consecutive quarters. The industrial REIT posted GAAP diluted EPS of $0.32, topping the $0.24 consensus estimate by 33.33%, though the figure includes a $15.10 million gain on sales of rental property, a meaningful step down from the $49.91 million gain recorded in Q1 2025, along with the absence of a $1.85 million gain on involuntary conversion present in the year-ago period. Revenue rose 9.1% year-over-year to $224.21 million, edging past the $222.35 million consensus estimate, with the growth underpinned by portfolio expansion and robust rent mark-to-market activity. The cleaner operational story emerged in Core FFO per diluted share of $0.65, up 6.6% year-over-year, driven by 20.9% cash rent growth across 6.0 million square feet of new leases commenced in the quarter. Evercore ISI lifted its price target to $44 following the results, citing improved industrial leasing velocity and emerging demand from data center-related tenants.

Key Takeaways
  • Same Store Cash NOI growth of 4.1% year-over-year
  • Cash Rent Change of 20.9% on commenced Operating Portfolio leases
  • Straight-Line Rent Change of 39.6% on commenced Operating Portfolio leases
  • Core FFO per diluted share grew 6.6% year-over-year to $0.65
  • Tenant retention of 69.5% on 6.5 million square feet of expiring leases
  • 6.0 million square feet of Operating Portfolio leases commenced in Q1 2026

“STAG delivered strong first quarter results driven by healthy leasing activity, disciplined capital allocation, and a growing acquisition pipeline. These results set a solid foundation for 2026 and we remain well positioned to capitalize on opportunities.”

STAG Industrial CEO, on the earnings call

STAG YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$70.0M$140.0M$210.0M$205.6M$224.2MRevenue$91.4M$63.3MNet Income$74.7M$84.0MOperating Income
$0$70.0M$140.0M$210.0MRevenueNet IncomeOperating Income

STAG Revenue by Segment

Rental Income$223.8M
Other Income$359,000

Figures from SEC filings and company reports. Not investment advice.